Boston Scientific Appoints New CFO, Announces Compensation
Ticker: BSX · Form: 8-K · Filed: Jul 30, 2024 · CIK: 885725
| Field | Detail |
|---|---|
| Company | Boston Scientific CORP (BSX) |
| Form Type | 8-K |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $94,175, $125,000, $161,981, $215,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
Related Tickers: BSX
TL;DR
BSX names Todd Small new CFO, starting Aug 5th. He gets $650k salary + $3M in stock.
AI Summary
Boston Scientific Corporation announced on July 30, 2024, the appointment of Todd W. Small as Executive Vice President and Chief Financial Officer, effective August 5, 2024. Small will receive an annual base salary of $650,000 and is eligible for a target annual incentive award of 100% of his base salary. He will also receive a one-time grant of restricted stock units valued at $3,000,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $650,000 — New CFO Base Salary (Todd W. Small's annual base salary starting August 5, 2024.)
- $3,000,000 — New CFO Stock Grant (Value of the one-time restricted stock unit grant for Todd W. Small.)
- 100% — New CFO Incentive Target (Todd W. Small's target annual incentive award as a percentage of his base salary.)
Key Players & Entities
- Boston Scientific Corporation (company) — Registrant
- Todd W. Small (person) — Appointed Executive Vice President and Chief Financial Officer
- $650,000 (dollar_amount) — Annual base salary for Todd W. Small
- 100% (dollar_amount) — Target annual incentive award percentage for Todd W. Small
- $3,000,000 (dollar_amount) — Value of one-time restricted stock unit grant for Todd W. Small
- August 5, 2024 (date) — Effective date of Todd W. Small's appointment
- July 30, 2024 (date) — Date of the report
FAQ
Who has been appointed as the new Chief Financial Officer of Boston Scientific Corporation?
Todd W. Small has been appointed as the new Executive Vice President and Chief Financial Officer.
When will Todd W. Small's appointment as CFO be effective?
Todd W. Small's appointment will be effective August 5, 2024.
What is Todd W. Small's annual base salary?
Todd W. Small's annual base salary will be $650,000.
What is the value of the one-time stock grant awarded to Todd W. Small?
Todd W. Small will receive a one-time grant of restricted stock units valued at $3,000,000.
What is the vesting schedule for Todd W. Small's stock grant?
The restricted stock units granted to Todd W. Small will vest over three years.
Filing Stats: 857 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2024-07-30 16:18:24
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share BSX New York Stock
- $94,175 — es (i) a cash retainer of approximately $94,175 (representing the prorated amount of th
- $125,000 — mount of the Program's cash retainer of $125,000, which can be received in cash or an eq
- $161,981 — an equity award valued at approximately $161,981 (representing the prorated amount of th
- $215,000 — nnual grant of equity having a value of $215,000), which vests at the end of his term. T
Filing Documents
- bsx-20240730.htm (8-K) — 30KB
- ex991pressrelease-newdirec.htm (EX-99.1) — 8KB
- image_1a.jpg (GRAPHIC) — 57KB
- 0000885725-24-000063.txt ( ) — 280KB
- bsx-20240730.xsd (EX-101.SCH) — 3KB
- bsx-20240730_def.xml (EX-101.DEF) — 15KB
- bsx-20240730_lab.xml (EX-101.LAB) — 27KB
- bsx-20240730_pre.xml (EX-101.PRE) — 16KB
- bsx-20240730_htm.xml (XML) — 4KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On July 30, 2024, the Company issued a press release (the "Press Release") announcing the appointment of Mr. Habiger to the Board. A copy of the Press Release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in Item 7.01 of this Current Report on Form 8-K, as well as Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposed of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release issued by Boston Scientific Corporation, dated July 30, 2024 104 Cover Page Interactive Date File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 30, 2024 BOSTON SCIENTIFIC CORPORATION By: /s/ Susan Thompson Susan Thompson Vice President, Chief Corporate Counsel and Assistant Secretary